N26 Bank review Germany
A digital bank account with budgeting tools, fast and easy payments and more.
N26 is a digital bank account and app that has a number of useful features. These include automatic spending categorisation and a daily spend figure to help you manage your money, customisable withdrawal limits and Spaces to help you save for a goal.
In this review we break down all of N26’s features, costs and limits so you can see if the app is going to suit you.
ATM fee for Euro withdrawals
Currency conversion fee
How N26 works in Germany
N26 is a digital bank that’s available in a number of countries across Europe including Germany as well as the US. When you sign up with N26 Bank, you have four account options to choose from; N26 Standard, N26 Smart, N26 You and N26 Metal.
N26 Standard is the most basic account and the only free option. The Smart, You and Metal accounts each have monthly fees attached to them but also more features. All four accounts come with a Mastercard, an app, free ATM withdrawals in Euros and free payments in any currency. The app offers spending insights, security options and other useful features to help you understand and manage your money.
You manage your N26 account out of the app, which is accessible from your smartphone, or the N26 web app.
You can do a lot with N26 in Germany. This includes:
- Manage, transfer and spend in multiple currencies. N26’s currencies feature is powered by Wise, letting you send money in 19 currencies from the app. You won’t be charged for foreign currency transactions or for a limited number of ATM withdrawals in Euros. The You and Metal accounts also won’t charge you for foreign currency ATM withdrawals.
- Google Pay and Apple Pay. Make contactless payments with your smartphone by adding your N26 card to Apple Pay or Google Pay.
- Security. Set and change daily spend and withdrawal limits, reset your PIN, lock and unlock your card and enable or disable online or foreign payments.
- Budgeting tools. Get automatic spending categorisation, view spending analysis and insights and create your own personal tags to organise your transactions.
- Save with spaces. If you want to save for a specific goal you can use N26’s Spaces function. It lets you put money into small sub-accounts that are kept away from your main funds.
- MoneyBeam. This feature lets you send money to your contacts without needing to know their bank details. Money is sent to fellow N26 users instantly or within two days if they’re not with N26.
- IBAN. You’ll be able to set up standing orders and receive and make payments the way you would with a traditional bank.
- Manage from multiple devices. Many challenger banks are only available through a smartphone app, but N26 also allows you to access your account from its web app as well.
How do N26 accounts work?
N26 offers four different account tiers: the standard N26 account, Smart, You and Metal. Here are the costs and features of these accounts:
N26 fees and limits
There are a few different costs and limits that come with an N26 account. These include:
- Monthly fees. The N26 Smart account comes with a monthly fee of €4.95, the N26 You account comes with a monthly fee of €0 and the Metal account comes with a monthly fee of €16.90.
- Currency conversion fee. N26 charges no foreign currency fees across its four accounts.
- ATM fees. You receive 3 withdrawals per month fee-free when withdrawing Euros. For any other currency, you will pay a €1.70 fee if you have a free account. There is no fee for international ATM withdrawals if you have a paid account.
- Overdraft fee. If you overdraw your account you will be charged 8.9% on the amount you overdraw.
N26 is a good option to consider for a few reasons. You can use it to spend in and transfer multiple currencies fee-free, get on top of your spending with the budgeting tools and benefit from extra perks such as insurance. If you’re not looking to pay for a bank account, N26’s free N26 Standard account still has a lot of the features that make it worth signing up for including budgeting tools and foreign currency spending and transfers. You just won’t get extra perks such as insurance and you’ll be charged a small fee for ATM withdrawals in other currencies.
If you want a more feature-packed account, the three other paid accounts are likely to be worth it if you’ll use the features. If you plan to make large deposits as a new customer, just be aware that you’ll be charged interest on the balance over €50,000 unless you opt for the N26 Metal account.
How to apply
Opening an account with N26 is fast and easy. You can do it from your smartphone or computer and it only takes a few minutes.
- Over 18 years old
- Reside in a supported country (for example, Germany)
- Have a tax identification number
- Have a valid identity document
- Have a smartphone
- Click “Go to site” to be securely redirected to N26’s website
- Enter your email address and personal information
- Confirm your email address
- Select the type of account you want (N26 Standard, N26Smart, N26You or N26Metal)
- Verify your identity
- Make a small deposit to activate your account
- Wait to receive your card. This will take between two and three working days.